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In the absence of FTS clause, income to be treated as Business Income
Jan. 31, 2018
In the recent case of Booz UAE, Mumbai ITAT held that in the absence of specific article regarding FTS, income will be taxable as business income under Article 7. Further since the Booz UAE did not have any PE in India, such income would be taxable in UAE only and not in India.
Here's how ICDS VII Overruled SC Judgement in case of Ponni Mills
Nov. 20, 2017
As per this ICDS, government grant relating to a depreciable fixed asset has to be reduced from written down value or actual cost of fixed asset. Rest, in all other cases, grants have to be recognized as upfront income or as income over the periods necessary to match them with costs which they intend to compensate.
What is the crux of decision of Mumbai ITAT in the case of Booz UAE?

Jan. 31, 2018
Registration of Trust won't be affected even if Revenue exceeds 20%
Feb. 07, 2017
In this write up, I will be discussing about latest judgement of Bombay HC. The judgement deals with Sec 2(15) of Income Tax Act, 1961. It was held that registration u/s 12AA cannot be cancelled even if receipts from incidental commercial activities exceeds threshold limit of 20% of total revenue. But benefit of exemption will not be available for that particular year. For elaborate discussion, continue reading:
Can I claim deduction under NPS in addition to deduction under Section 80C??

Yes deduction under Section 80CCD for NPS is in addition to Section 80C deduction...Section 80CCD deduction is for maximum of Rs 50,000 while, maximum deduction under Section 80C is Rs 150,000....So in totality, maximum deduction under Section 80C,Section 80CCC and Section 80CCD is Rs 200,000.
Shell India won Rs 15000 Crores Transfer Pricing Case
Jun. 27, 2017
Shell India won a Transfer Pricing case. The main issue for consideration before the Hon'ble HC was to determine, whether the issue of shares will come under the purview of Transfer Pricing provisions are or not. Below is the elaborate discussion on this case.
ITAT Ruling in Black Duck Software Inc.
Nov. 30, 2017
In a recent case law ITAT succinctly observed the difference between a copyright and a copyrighted article. The ITAT further delineated the scope of amendment in definition of Royalty and held that amendment in section 9(1)(vi) cannot be read into the India-US tax treaty.

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